At least two bridges in Mindanao and the Visayas under the Duterte administration's "Build, Build, Build" program are in the lineup to be funded by official development assistance (ODA) loan from China, the Department of Finance (DOF) said Wednesday. Current trending headlines in business, money, banking, finance, companies, corporations, agriculture, mining, foreign currency rates, Philippine Stock Exchange (PSE) Index, inflation, interest, market prices and economic analysis.
The 'build build build' program of the current administration of the Philippines today was far the most brilliant program of the government for the past 5 administrations. But how come, we are seeking for international funding for those big projects? Are we really entering on a so called "Chinese debt-trap"? As far as I know, there are currently 3 big projects being funded by the Chinese government as a loan. In my opinion, they can allocate bigger budget for infrastructure cut on the 2019 budget of $71 Billion and refrain from taking a loan.
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